Swindled by a Sweetheart

Cringing from Easy Credit

Sometimes it helps to read something you already know just to keep you on track. So if you're in debt you should read "From Foreclosure Signs to Auto Repo Lots" (Feb. 18), by Post reporters David Cho and Nancy Trejos. The two report on the growing burden of debt so many people have taken on.

As they report, some auto loan borrowers are having an extremely hard time making their payments. And more people are turning to credit to pay regular expenses like utility bills and groceries.

"Consumers borrow more money today than at any point in history...Consumer debt reached an all-time high of $2.55 trillion in December, nearly double from a decade ago, according to the Federal Reserve. Some economists say Americans are simply paying the price of their addiction to debt and are now more vulnerable than ever to credit downturns," wrote Cho and Trejos.

For homeowners facing foreclosure, more help is on the way reports Dina Elboghady in "Mortgage Plan Seeks To Stem Foreclosures" (Feb. 21).

The Office of Thrift Supervision is planning to help distressed owners who owe more than their home's worth. The goals are to keep people from just abandoning their property and contain the effect of the mortgage markets on the economy as a whole.

To read about this help, click here.

Tax Tips 2008

If you're still working on your taxes, check out "Tax Breaks for Buying a Home" (Feb. 17) by Jessica Anderson. These tips are part of a new feature, "Tax Planning for Life's Major Events" (Feb. 16), provided by Kiplinger.com.

Also, read my column today, as I clear up some of the confusion about the tax rebate. If you're wondering whether you're eligible, Kiplinger has a calculator you can use to figure it out. And don't forget what I told you last month: "A Tax Rebate? Feed Piggy" (Jan. 31).

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